- 10 Marks
FRPA – APRIL 2023 – L3 – Q6 – Audit Committee Functions and Composition in Ghana
List and explain five functions of the Audit Committee as per Ghana's Code of Best Practices in Corporate Governance and recommend its composition for RGB Savings and Loans Limited.
Question
In Ghana, the Code of Best Practices in Corporate Governance requires every corporate body at which the code is directed to have an audit committee.
You are required to: A. List and explain FIVE functions of the Audit Committee. B. As a consultant for RGB Savings and Loans Limited, recommend the composition of the Audit Committee to the Managing Director.
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